The KOSPI index surged past the 8,800 mark during trading, reaching a new all-time high, driven by significant institutional buying. Samsung Electronics saw a nearly 10% increase, pushing its market capitalization over 2 trillion won, prompting the Korea Exchange to activate a trading halt on the stock market. In contrast, the KOSDAQ index continued to struggle, dipping into the low 1,050s despite foreign buying activity.
As of 1:22 PM, the KOSPI was trading at 8,849.17, up 373.02 points (4.40%) from the previous trading day. The index opened at 8,485.67, up 9.52 points (0.11%), and at one point reached a peak of 8,874.16, setting a new record.
While individual investors sold a net 336.3 billion won and foreign investors offloaded 2.149 trillion won worth of stocks, institutions purchased a net 2.5146 trillion won, propelling the index higher.
The Korea Exchange activated a trading halt on the stock market at 11:30 AM after KOSPI 200 futures rose 5.02% for one minute, leading to a five-minute suspension of program buy orders. This marks the 11th trading halt for the KOSPI this year.
Among the top market capitalization stocks, Samsung Electronics showed remarkable strength, trading at 348,500 won, up 9.94%, and surpassing a market cap of 2 trillion won. Other gainers included Samsung C&T (up 9.83%), Hyundai Motor (up 7.88%), Samsung Life Insurance (up 6.69%), Hyundai Mobis (up 2.34%), SK Hynix (up 1.41%), SK Square (up 2.19%), and Doosan Enerbility (up 3.31%). Conversely, Samsung Electro-Mechanics (down 4.18%) and HD Hyundai Heavy Industries (down 0.57%) faced declines.
At the same time, the KOSDAQ index was trading at 1,046.70, down 28.10 points (2.61%) from the previous day. It opened at 1,072.77, down 2.03 points (0.19%).
Both individual and institutional investors sold a net 357.3 billion won and 132.7 billion won worth of stocks, respectively, while foreign investors bought a net 505.3 billion won.
Most of the top KOSDAQ stocks were underperforming. EcoPro BM (down 4.38%), Alteogen (down 2.85%), EcoPro (down 5.54%), JUSUNG Engineering (down 8.10%), Kolon TissueGene (down 6.27%), Samchundang Pharm (down 3.98%), and Peptron (down 8.31%) all saw declines. In contrast, Rainbow Robotics (up 14.10%) and HLB (up 5.12%) performed well.
Analysts attribute the surge in the stock market to the strong performance of Samsung Electronics and stocks related to artificial intelligence and robotics. Kang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "May exports reached a record high of $87.75 billion, with semiconductor exports increasing by 169%, boosting investor sentiment. Samsung Electronics is experiencing a surge due to the initial shipment of HBM4E samples, easing concerns over profit-sharing, and anticipation of NVIDIA CEO Jensen Huang's visit to Korea."
He added, "With expectations of collaboration with Jensen Huang, buying interest is spreading to physical AI-related stocks such as LG Electronics and Doosan Robotics. NAVER is also showing strength as expectations for AI data sovereignty are reflected in its performance."
* This article has been translated by AI.
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